Vista Land raising funds for expansion

Villar-led property developer Vista Land & Lifescapes Inc. is raising additional funds to support the planned expansion of its portfolio and communities that cater to the diverse needs of end customers.

Vista Land intends to optimize its resources, particularly land assets, by expanding its Vista Estate developments nationwide and increasing its participation in high-end projects like Brittany and Crown Asia initiatives.

Furthermore, it plans to prioritize mixed-use developments that seamlessly integrate vertical and commercial components into its existing and upcoming projects.

The company said in a stock exchange report last week that it already secured the approval of its Board of Directors to launch preferred shares offering this year that could yield as much as P5 billion.

The offering includes a sale of up to 50 million Series 2 preferred shares of the company at up to P100 per share.

Vista Land tapped China Bank Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and joint bookrunners for the offer.

For the full year 2023, Vista Land reported a net income of P10.29 billion last year, 39 percent higher than the P7.39 billion recorded in 2022 mainly due to robust residential sales.

Last year, it spent P27.1 billion on capital expenditures, the bulk of which was earmarked for construction and land development.

As of the end of 2023, the company launched 34 projects with an estimated project value of about P50.7 billion.

Vista Land conducts its residential and commercial property development operations through six distinct business units: Camella Homes, Communities Philippines, Crown Asia, Brittany, Vista Residences, and Vistamalls.